AMD pre-announces Q3 revenue ~$5.6B, well below guidance of $6.7B on PC weakness

ADVANCED MICRO DEVICES INC

2022-Q3 EPS reported $0.84 revenue$18,002,000,000

Preliminary Q3 revenue ~$5.6B (+29% YoY) vs prior guidance of ~$6.7B; client revenue fell 40% YoY to ~$1.0B.
Non-GAAP gross margin expected ~50% vs prior guidance of ~54%; includes ~$160M charges for inventory and pricing reserves.
Data Center segment revenue ~$1.6B (+45% YoY), Gaming ~$1.6B (+14% YoY), Embedded ~$1.3B (+1549% YoY) all in-line.
GAAP operating expenses ~$2.4B; non-GAAP opex ~$1.5B, lower than expected $1.6B due to lower variable compensation.
CEO cites weaker PC demand and significant inventory correction across supply chain; full Q3 results on Nov 1.

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